How This Smart Ethereum Whale Earned Over $14 Million in ETH Without Always Buying Low and Selling High

2023-11-15 17:45

According to on-chain data analyst Lookonchain, an Ethereum whale recently generated $14.3 million in profits without consistently buying low and selling high.

The whale sold 6,099 ETH for $12 million in USDC when Ethereum was trading around $1,964. Lookonchain examined the whale’s trading patterns and found they do not always follow the typical buy low, sell high strategy.

Even when Ethereum’s price fluctuated greatly, the whale bought and sold at seemingly random times, showing hesitance in their trading. However, the whale made well-timed purchases before major Ethereum price increases in December 2022, March 2023 during the USDC depegging, and most recently.

Through this opportunistic trading, the whale accumulated approximately 20,000 ETH. They realized $8.3 million in profits so far, and hold an estimated $6 million in unrealized gains based on Ethereum’s current price.

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By buying during strategic periods of price consolidation and weakness, the whale grew their Ethereum stack substantially. With timely sells during price spikes, they generated outsized returns without consistently buying bottoms and selling tops.

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The post How This Smart Ethereum Whale Earned Over $14 Million in ETH Without Always Buying Low and Selling High appeared first on CaptainAltcoin.

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